Q3 2024 Tallink Grupp AS Earnings Call Transcript
Key Points
- Tallink Grupp AS (FRA:T5N) reported a growth in its global loyalty program, Club One, with membership increasing from 3.2 million to 3.3 million.
- Despite a decline in cargo volumes, cargo revenue increased by 1% compared to Q3 2023.
- The company maintained a healthy EBITDA margin of 30% for Q3 2024.
- Tallink Grupp AS successfully extended the charter of the Galaxy vessel in Holland until October 2025, with an option to extend further.
- The company has been producing positive quarterly net profit results for six consecutive quarters, indicating financial stability.
- Tallink Grupp AS experienced a 3% decline in passenger numbers and a 12% decrease in cargo units compared to the previous year.
- Total revenue for Q3 2024 was EUR 232 million, a 4% decrease from Q3 2023.
- EBITDA for Q3 2024 was EUR 68 million, down from EUR 82 million in the same period last year, partly due to two vessels being in layup.
- Net profit for the quarter was EUR 37 million, a decrease from EUR 49 million a year ago.
- The economic situation in key markets like Estonia and Finland remains weak, affecting overall performance and consumer confidence.
Good afternoon, all of those who have joined us today. Welcome to Tallink Grupp invest webinar, introducing the financial results for the third quarter of 2024. My name is Anneli Simm and I'm the Investor Relations manager at Tallink and I'm moderating today's webinar.
Today, we have Margus Schults, the member of the Management Board of Tallink Grupp who will walk you through the third quarter results and key takeaways. And the presentation will be followed by after the presentation -- sorry and Mr. Paavo Nõgene and the CEO of Tallink Grupp will take your questions. We have already received a few questions but encourage you to ask your questions through the Q&A function. It would be nice although that if you would also identify yourself when asking the question.
That I will now hand it over to Mr. Margus Schults, who will start with the presentation.
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